Monopolization of the Labor Market Restricts Output Because

question 15

Multiple Choice

Monopolization of the labor market restricts output because

• A) fewer workers offer their services.
• B) the higher wage raises the firm's marginal cost.
• C) monopolized workers are less productive.
• D) a monopolized labor market means there is also a monopolized output market.

---

Definitions:

Token Reinforcement

A system of behavior modification based on the systematic reinforcement of target behavior, wherein tokens are given as rewards which can be exchanged for desired items or privileges.

Symbolically Represent

To stand for, denote, or signify something through symbols or allegories, allowing for abstract concepts to be conveyed in a understandable manner.

Retain Behavior

The process of maintaining or persevering with certain behaviors over time, often influenced by learning and experience.

Encode

The process of converting information into a form that can be stored in memory.